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Renewal of cautionary announcement
FAMOUS BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/004875/06)
Share code: FBR
ISIN code: ZAE000053328
(“Famous Brands” or “the Group” or “the Company”)
Renewal of Cautionary Announcement
Shareholders are referred to the Cautionary Announcement
(“Announcement”) published on SENS on 2 April 2020, in which the Board
of Directors (“Board”) advised that the Group had reviewed its
investment in GBK Restaurants Limited (“GBK”) and had taken the
decision to not provide any further financial assistance to GBK.
Accordingly, the Board of GBK would consider the options available to
the business.
Shareholders were also cautioned that the Board’s decision to withhold
further financial support for GBK may result in an impairment of the
full value of Famous Brands’ investment in GBK, the precise valuation
of which impairment would be determined in due course.
As deliberations in respect of this matter are still in progress,
shareholders are advised to continue exercising caution when dealing
in the Company’s securities until a further announcement is made in
this regard.
The financial information on which this announcement is based has not
been reviewed or reported on by the Group’s external auditors.
Midrand
20 May 2020
Sponsor
The Standard Bank of South Africa Limited
Date: 20-05-2020 07:30:00
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